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Topic: Internal Revenue Service

Applications due April 10th, 2014 for Nonprofits seeking City of Clarksville Funding

 

City of Clarksville - Clarksville, TNClarksville, TN – Qualified nonprofit charitable or civic organizations in Clarksville have an opportunity to seek the City’s financial support on a limited basis. Applications for these funds are due by noon on Thursday, April 10th, 2014. «Read the rest of this article»

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U.S. Treasury Inspector General for Taxpayer Administration Warns of “Largest Ever” Phone Fraud Scam Targeting Taxpayers

 

IRS - Internal Revenue ServiceWashington, D.C. – The Treasury Inspector General for Taxpayer Administration (TIGTA) today issued a warning to taxpayers to beware of phone calls from individuals claiming to represent the Internal Revenue Service (IRS) in an effort to defraud them.

“This is the largest scam of its kind that we have ever seen,” said J. Russell George, the Treasury Inspector General for Tax Administration. George noted that TIGTA has received reports of over 20,000 contacts and has become aware of thousands of victims who have collectively paid over $1 million as a result of the scam, in which individuals make unsolicited calls to taxpayers fraudulently claiming to be IRS officials. «Read the rest of this article»

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IRS reports $12.8 Million in refunds for Tennesseans who have not Filed 2010 Income Tax Return

 

Internal Revenue Service - IRSNashville, TN – Refunds totaling more than $12.8 million may be waiting for about 16,300 Tennesseans who did not file a federal income tax return for 2010, the Internal Revenue Service announced today. However, to collect the money, a return for 2010 must be filed with the IRS no later than April 15th, 2014.

Nationwide, almost $760 million may be waiting for an estimated 918,600 taxpayers who did not file a tax return for 2010.

For 2010 returns, the window closes on April 15th, 2014. The law requires that the return be properly addressed, mailed and postmarked by that date. «Read the rest of this article»

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Investigating Tax Refund Fraud

 

FBI Works Cooperatively with Federal Partners

FBIWashington, DC – A Georgia woman was recently sentenced to 27 years in prison for stealing the identities of nursing home patients and using their information to apply online for about half a million dollars in fraudulent tax refunds from the Internal Revenue Service (IRS).

Criminals who use stolen personally identifiable information to line their own pockets perpetrate a wide variety of fraudulent financial schemes, like hacking into online accounts, submitting phony insurance claims, and applying for loans and credit cards. Increasingly, though, tax refund fraud using stolen identities is fast becoming a favorite money-making endeavor of the criminal element.

IRS Tax Refund «Read the rest of this article»

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IRS says get Credit for Making Your Home Energy-Efficient

 

Internal Revenue Service - IRSWashington, D.C. – If you made your home more energy efficient last year, you may qualify for a tax credit according to the Internal Revenue Service (IRS).

Here is some basic information about home energy credits that you may be able to claim on your 2013 tax return. «Read the rest of this article»

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IRS says more Tennesseans E-filing their own Tax Returns

 

Internal Revenue Service - IRSNashville, TN – With five weeks left before the April 15th tax filing deadline, the Internal Revenue Service reports that Tennesseans are e-filing tax returns in record numbers.

Through March 7th, the IRS has received nearly 1,469,000 electronic returns from Tennesseans, an increase of 3.8 percent over last year at this time. But the largest increase is in the number of taxpayers filing from their own computers. Nearly 712,000 Tennessee filers have e-filed self-prepared returns, an increase of 9.8 percent over last year at this time. «Read the rest of this article»

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Itemizing vs. Standard Deduction; IRS gives Five Tips to Help You Choose

 

Internal Revenue Service - IRSWashington, D.C. – When you file your tax return, you usually have a choice whether to itemize deductions or take the standard deduction. Before you choose, it’s a good idea to figure your deduction using both methods.

Then choose the one that allows you to pay the lower amount of tax.

The IRS offers these five tips to help you choose. «Read the rest of this article»

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IRS Clarifies Taxable and Nontaxable Income

 

Internal Revenue Service - IRSWashington, D.C. – Most types of income are taxable, but some are not. Income can include money, property or services that you receive.

All income, such as wages and tips, is taxable unless the law specifically excludes it. This includes non-cash income from bartering – the exchange of property or services. Both parties must include the fair market value of goods or services received as income on their tax return. «Read the rest of this article»

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IRS’ Free File makes Tax Filing Easy and Free

 

Internal Revenue Service - IRSWashington, D.C. – You don’t have to be a tax expert to prepare your federal tax return. Really!

Using IRS Free File, you can prepare and e-file your federal taxes on brand-name software for free. The program is a partnership between the IRS and the Free File Alliance, a group of about 14 tax software companies.

All Free File software companies use the latest encryption software. Nearly 40 million tax filers have used Free File safely and securely. «Read the rest of this article»

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IRS information on Claiming the Child and Dependent Care Tax Credit

 

Internal Revenue Service - IRSWashington, D.C. – The Child and Dependent Care Credit can help offset some of the costs you pay for the care of your child, a dependent or a spouse.

Here are 10 facts the IRS wants you to know about this tax credit. «Read the rest of this article»

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